A survey of servicing executives by Fannie Mae found that the companies are having difficulties keeping up with forbearance requirements. Staffing capacity is also an issue.

It’s too early to tell if the foreclosures have been avoided altogether or just pushed further into the future, a Federal Reserve economist said.

Industry watchers believe mortgage servicers have a lot on their plate this year in terms of compliance with CARES Act forbearance, state-level relief guidance and limitations on foreclosures.

The proposed legislation will stop servicers from advancing a foreclosure while a borrower is in the process of receiving a loan modification.

Only 18% of borrowers who refinanced during the third quarter remained with their previous lender/servicer. The reason: Competing lenders offering lower rates.

Immediate actions by lawmakers is essential to prevent a national foreclosure crisis early next year, consumer groups believe. In a new Census Bureau survey, more than a third of the respondents said they may face foreclosure or eviction in the next two months.

Time to start thinking about 2021? Sure, but lenders are plenty busy these days. The fourth quarter could be a barn-burner, just like 3Q20.

A lot of the decline in servicing-for-others held by banks was attributable to Wells Fargo and other big players in the market. A number of mid-sized banks grew SFO in 3Q20. (Includes two data charts.)

The MBA and many other trade groups have urged federal regulators to extend a break on troubled debt restructuring for loan mods related to the coronavirus.

The sale of Ginnie servicing rights have been anemic for two full quarters. But hope springs eternal the market might be reviving soon.